IBOV 175,664.62 ▲ 0.30% IPSA 11,445.90 ▼ 0.22% IPC MEX 65,484.32 ▼ 0.53% MERVAL 2,979,472 ▼ 0.72% COLCAP 2,457.87 ▼ 1.28% BVL PERÚ 60,779.49 ▼ 1.40% USD/BRL5.21▲ 0.23% USD/MXN17.03▼ 0.04% USD/CLP930.58▼ 0.10% USD/COP3,202▲ 1.26% USD/PEN3.35▼ 0.07% USD/ARS1,512▼ 0.03% USD/UYU40.27▲ 1.47% USD/PYG5,900▲ 1.27% USD/BOB11.78▲ 3.30% USD/DOP58.61▲ 0.96% USD/CRC446.65▲ 0.97% USD/GTQ7.62▲ 2.20% USD/HNL26.84▲ 0.40% USD/NIO36.62— 0.00% USD/VES789.69▼ 0.54% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.72▲ 0.84% EUR/BRL6.01▲ 0.17% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 175,664.62 ▲ 0.30% IPSA 11,445.90 ▼ 0.22% IPC MEX 65,484.32 ▼ 0.53% MERVAL 2,979,472 ▼ 0.72% COLCAP 2,457.87 ▼ 1.28% BVL PERÚ 60,779.49 ▼ 1.40% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Sunday, August 30, 2026

Brazil Business

Brazil’s Lula Leads Flávio Bolsonaro in a 2026 Runoff Poll

By · July 16, 2026 · 5 min read

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Brazil · Politics

Key Facts

Runoff gap Lula holds an 8-point lead (45% to 37%) over Flavio Bolsonaro, signaling a solid but not insurmountable advantage 15 months before the election.

Approval near-even Lula’s approval (48%) and disapproval (47%) are statistically tied, showing a deeply divided electorate that could swing on economic performance.

High rejection Flavio Bolsonaro is rejected by 57% of voters, a ceiling for his candidacy that makes it hard to expand beyond his base in a runoff.

First-round landscape In a first-round simulation Lula scores 40% to Flávio’s 28%, with no other contender reaching double digits, suggesting an incumbent-led race.

Market sensitivity Polls commissioned by brokerage Genial closely watch voter sentiment because a tight race affects fiscal policy expectations and Brazilian asset prices.

Brazil’s President Luiz Inácio Lula da Silva leads challenger Flavio Bolsonaro in a hypothetical 2026 runoff, 45% to 37%, according to a new Genial/Quaest poll released on July 15, 2026, showing a competitive but uphill race for the opposition.

Brazil's Lula Leads Flavio Bolsonaro in Hypothetical 2026 Runoff, Poll Shows
Brazil · Politics
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The numbers in detail

The Genial/Quaest survey, commissioned by brokerage Genial, tested a head-to-head matchup between the incumbent and Senator Flavio Bolsonaro, son of former President Jair Bolsonaro. Lula received 45% support compared to Flavio’s 37% in the simulated second round.

In a wider first-round scenario, Lula captured 40%, Flávio Bolsonaro 28%, followed by Goiás Governor Ronaldo Caiado at 4%, activist Renan Santos at 3%, and Minas Gerais Governor Romeu Zema at 2%. No other candidate tested in the survey reached above single digits.

Approval, disapproval, and rejection

The same poll found President Lula’s job approval at 48%, with disapproval nearly identical at 47%. The one-point difference is within the margin of error, meaning the country is effectively split on his performance.

For Flavio Bolsonaro, a more serious warning sign lies in his rejection rate. Fifty-seven percent of respondents said they would not vote for him under any circumstance. High rejection often acts as a hard ceiling in runoffs, making it difficult to capture swing voters.

Why this matters for investors and expats

The Genial/Quaest poll is produced for Genial, a Brazilian brokerage, which means financial markets monitor it closely. When the race tightens, investors reassess whether a market-friendly policy framework can endure after the October 2026 vote, often leading to short-term volatility in the Brazilian real and the Bovespa stock index.

For expatriates and foreign residents, the data points to a campaign that will likely dominate public debate for the next 15 months. Political stability, or the lack of it, directly influences utility prices, currency exchange rates, and the cost of living in major Brazilian cities where most foreigners settle.

Broader campaign context

Flavio Bolsonaro, currently serving as a senator for Rio de Janeiro, is attempting to consolidate his father’s political base while presenting a more moderate image. Former First Lady Michelle Bolsonaro has also been mentioned in polling matchups, but the July 15 Genial/Quaest release focused on Flavio as the main opposition standard-bearer.

Lula, in turn, has been actively traveling the country to inaugurate infrastructure and housing projects, aiming to lift his approval ratings by highlighting economic delivery. The narrow gap between approval and disapproval suggests that economic sentiment—particularly inflation and employment—will be decisive in the 2026 contest.

How the Race Has Shifted Since April

The result is most striking for how quickly it moved. In April the same Genial/Quaest series gave Flávio Bolsonaro a narrow second-round edge of 42% to 40%; by May that had flipped to a one-point Lula lead; and now, in July, it has widened to eight points, the pollster found. A months-long tightening has turned into a clear gap.

The swing coincides with a turbulent stretch in Brasília. This was the first Quaest survey taken after a corruption investigation touching a senior Lula ally and an escalating dispute over fresh US tariff threats against Brazil, two stories that have crowded out almost everything else in the capital. Yet our reporting has shown that the shift is also rooted in economic sentiment: inflation and employment trends have moved in Lula’s favor since April, reinforcing the pattern our archive has tracked across multiple election cycles.

Analysts still urge caution. The vote is more than a year of campaigning away, and Flávio Bolsonaro, carrying his family’s brand and a loyal base, remains the right’s clear standard-bearer. Second-round match-ups can move sharply once first-round campaigning narrows the choice. For now, though, the momentum is running Lula’s way.

Frequently Asked Questions

What was the exact result of the Genial/Quaest Lula vs. Flavio Bolsonaro runoff poll?

The July 15, 2026, Genial/Quaest poll gave President Lula 45% and Senator Flavio Bolsonaro 37% in a hypothetical second-round matchup.

What is Flavio Bolsonaro’s voter rejection rate?

According to the same Genial/Quaest survey, 57% of respondents said they would not vote for Flavio Bolsonaro, a high rejection figure that can limit his ability to win a runoff.

How does this poll affect foreign investors in Brazil?

Because the poll is commissioned by brokerage Genial, it directly feeds into market sentiment. A wide lead can reassure investors about political continuity, while a narrowing margin often raises volatility in Brazilian currency and equity markets.

Sources: Brazil’s Lula gains ground on Flavio Bolsonaro ahead of presidential vote, poll shows, Brazil’s Lula widens lead over Flavio Bolsonaro ahead of presidential vote: poll, Flavio Bolsonaro catches Lula in Brazil 2026 poll, Lula edges Flavio Bolsonaro 42 to 41 in Quaest runoff poll, Lula holds five-point lead over Flavio Bolsonaro in Brazil presidential election

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